Health Articles
Money Saving Tips for the Holiday Season
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The winter holidays can be a joyful time of year for many as we often have more opportunities to connect with friends and family. However, money can be an area of stress during the winter months. For those who celebrate or gather with family, this season often comes with increased spending expectations.
To prioritize your financial wellness this holiday season,
try applying a few of these tips:
- Make a list, check it twice: Avoid impulse buying by making a shopping list for when you shop in-person or online. Stick to your list to avoid making extra purchases for items you do not need.
- Shop the sales: There are endless sales during the winter. Search for coupons, sales, and discount codes online to find the best deal on purchases you plan to make.
- Take advantage of free or low-cost holiday activities: Research your local community for free or cheap events, concerts, markets, galleries, and museums. You do not have to spend a fortune to find something fun to do this season!
- Prioritize your needs: Before you spend money on lavish holiday gifts and celebrations, budget for your essential expenses like bills and debt payments.
- For those who give gifts, try a gift shopping alternative where possible:
- Hold a white elephant, secret Santa, or grab bag gift exchange. For these events, each person will only purchase one gift for the gathering, instead of one gift per person. Make sure you set a budget for the price of each gift!
- Discuss swapping homemade gifts such as food, art projects, or acts of service. These can be more meaningful than purchased presents.
- Organize a second-hand gift swap where those involved can exchange items they no longer need but feel others would enjoy.
- Focus on quality time: When you are discussing low-cost holiday plans with friends and family, emphasize your desire to maximize quality time. The holidays for many is about connection, not price tags.
Navigate the holiday and winter season with confidence and peace of mind. Plan ahead and communicate openly with your loved ones about your thoughts on budgeting. With a bit of intention, you can enjoy gatherings that are financially responsible and create cherished memories.
Good luck!
